nonfinancial customer paper

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 475 — for purposes of this section (3 versions over time)

For purposes of subparagraph (A), the term "nonfinancial customer paper" means any receivable which—

(i) is a note, bond, debenture, or other evidence of indebtedness;

(ii) arises out of the sale of nonfinancial goods or services by a person the principal activity of which is the selling or providing of nonfinancial goods or services; and

(iii) is held by such person (or a person who bears a relationship to such person described in section 267(b) or 707(b)) at all times since issue.

For purposes of this section—